- The Nigerian National Petroleum Corporation (NNPC) announces it will stop acting as a middleman between Dangote Refinery and fuel marketers, raising concerns about potential petrol price hikes
- Marketers will now buy petrol directly from Dangote Refinery, which could streamline operations but may lead to increased costs for consumers
- Industry experts warn that the lack of NNPC oversight may result in more frequent and significant petrol price fluctuations, impacting the average Nigerian's finances
In what may be a significant shift in Nigeria's petroleum supply chain, the Nigerian National Petroleum Corporation (NNPC) has announced it will no longer act as a middleman between Dangote Refinery and fuel marketers.
This decision has raised concerns that consumers may soon face higher petrol prices.
The NNPC's exit from its intermediary role means that marketers will now purchase petrol directly from the Dangote Refinery, which is expected to streamline operations but could also lead to increased costs being passed on to consumers.
Analysts suggest that this change may create more volatility in petrol pricing, as the direct transactions could result in higher price fluctuations based on market conditions.
Industry experts are closely monitoring the situation, warning that without the NNPC's oversight, price hikes may become more frequent. Consumers are already expressing concern over the potential for increased financial strain.
"This decision could impact the average Nigerian's pocket, especially with the current economic climate," commented an industry analyst. "If marketers adjust prices to maintain profit margins, we could see petrol costs rise significantly."
As discussions unfold, both government officials and industry leaders are expected to address the implications of this policy change in the coming days. For many Nigerians, the prospect of paying more for petrol adds to ongoing concerns about the rising cost of living and economic challenges.
The situation is evolving, and stakeholders are urged to stay informed as developments continue.
NNPC announces freedom for marketers to source petrol directly, challenging Dangote’s statements
Meanwhile, TheRadar earlier reported that with the Nigerian National Petroleum Company Limited's policy, allowing direct purchases from Dangote Refinery, oil marketers evaluated whether to buy locally or import petrol.
Marketers considered buying from Dangote if prices were competitive and may import if cheaper.
